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you thought this fiscal cliff deal was a bad one. why? >> i think newt just gave the explanation for my no vote. these political showdowns don't work. this is no way to run government. you can't give anyone any kind of certainty where to go, whether it's the markets or the average american family. and we have to get to the point of dealing with these tough decisions with big deals. you can't keep hitting singles or hope to be walked to first base and win the game. you have to go for the big deal. and it's time for us to sit down, lock ourselves all in a room, not just a couple of folks, and come out with a deal. at the end of the day, you end up doing what ultimately happened, which is if you can't agree because you have the extreme sides, then put your best proposal on the table and let the best proposal win. >> e.j., you have a dissenting view. you think that view is too narrow. you think this is a better deal than it's gotten credit for. >> i think i'm the only person here who think it's a better deal than it's gotten credit for. if yo
you thought this fiscal cliff deal was a bad one. why? >> i think newt just gave the explanation for my no vote. these political showdowns don't work. this is no way to run government. you can't give anyone any kind of certainty where to go, whether it's the markets or the average american family. and we have to get to the point of dealing with these tough decisions with big deals. you can't keep hitting singles or hope to be walked to first base and win the game. you have to go for the...
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Jan 3, 2013
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now the fiscal cliff deal led to a very big sign on wall street. happy to save money on the capital-gains taxes scott talked about sent the dow up more than 300 points. the nasdaq led by apple and g g google gained 3%. >> as is common with washington politi politics, there's more than meets the eye. congress found a way to massage a few other notable items into the fiscal cliff deal. >> in tonight's reality check, sam brock shows us what special interests are under way in the compromise bill don't look like they necessarily belong in a budget discussion, sam. >> jessica, good evening. our congressional leaders have been cramming bills with pork since practically the dawn of time. at least the dawn of organized government. in a charged political atmosphere for every penny represents a tug of war, some of the bacon in this bill could leave you scratching your head. from capitol hill and the likes of pelosi, reid, and boehner to your neighborhood pig ready to offer up fresh pork, the question bears asking, have lawmakers taken taxpayers for a ride aro
now the fiscal cliff deal led to a very big sign on wall street. happy to save money on the capital-gains taxes scott talked about sent the dow up more than 300 points. the nasdaq led by apple and g g google gained 3%. >> as is common with washington politi politics, there's more than meets the eye. congress found a way to massage a few other notable items into the fiscal cliff deal. >> in tonight's reality check, sam brock shows us what special interests are under way in the...
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the fiscal cliff deal isn't all good news. moody's investor services warned that if a viable plan to shrink our deficit isn't reached in the next few months the government's credit rating could be at risk. >>> al jazeera could be coming to a tv near you. former vice president al gore has sold current tv, the channel he co founded, to al jazeera. the plan is to use existing distribution to broadcast to u.s. viewers. one interesting note, as soon as the deal was announced time warner cable said they would drop the channel from their 12 million subscribers. >>> polaroid seems to be developing a new business plan. the company will be opening several retail shops called photo bars where people can come in the store to download and print pictures. there will even be photo tenders to help people with the process. >>> if you build it, they will buy it. the famous iowa baseball diamond from the iconic movie "field of dreams" has been sold for $3.4 million. the new owners plan to transform the landmark into 24 youth baseball fields. >>>
the fiscal cliff deal isn't all good news. moody's investor services warned that if a viable plan to shrink our deficit isn't reached in the next few months the government's credit rating could be at risk. >>> al jazeera could be coming to a tv near you. former vice president al gore has sold current tv, the channel he co founded, to al jazeera. the plan is to use existing distribution to broadcast to u.s. viewers. one interesting note, as soon as the deal was announced time warner...
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Jan 7, 2013
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and his vote on the fiscal cliff, against -- his vote against that fiscal cliff deal shows that he is aligning himself with the tea party. and the two of them clashing, it could be a very interesting conversation between the two. >> i have nothing -- going to your point, there are two numbers that everyone can understand. the house and the senate are in session together. exactly five days in january. and 11 in february. which gives you a good read on why it's going to take so long. andrea: and when we come back, does hillary clinton still in a st andrea: welcome back. hillary clinton is out of the hospital. we're all glad for that. she has been cleared by her doctors to go back to work. she's already on the phone calling staff. big question of the week, if she wants to run for president, is she still in a strong position? bob? >> yes. >> gloria. >> absolutely. andrea: and bob and all of that you joe biden had an aneurysm. other candidates -- cheney we know about. five heart attacks. other candidates for national office have had health issues. >> they were men i should add. >> i think
and his vote on the fiscal cliff, against -- his vote against that fiscal cliff deal shows that he is aligning himself with the tea party. and the two of them clashing, it could be a very interesting conversation between the two. >> i have nothing -- going to your point, there are two numbers that everyone can understand. the house and the senate are in session together. exactly five days in january. and 11 in february. which gives you a good read on why it's going to take so long....
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Jan 6, 2013
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i want some of your reaction to some of the criticism from the right to this fiscal cliff deal, which as you know doesn't deal with spending, is a temporary measure, and taxes are going up. charles krautheimer said it's a complete surrender on everything. ericson blogger from red state wrote this. dear members of the press, yes, you can all refer to this as the mitch mcconnell tax hike. red state approves the tea party of louisville, the president saying this week, the next test will come with the debt ceiling debate. let's hope mcconnell compromises and giving in while getting nothing in return. however, if his fiscal cliff negotiations are any indication, we'll most likely see him wave the white flag again. what's your reaction, senator? >> well, the election will take care of itself in 2014. the question is, what will we do now? we know that everybody's taxes were going up a couple of days ago. what we did was prevent tax increases on 99% of the american public. nobody in the senate, not the 90% of senate republicans who voted for this, voted to raise anybody's taxes. and the arbit
i want some of your reaction to some of the criticism from the right to this fiscal cliff deal, which as you know doesn't deal with spending, is a temporary measure, and taxes are going up. charles krautheimer said it's a complete surrender on everything. ericson blogger from red state wrote this. dear members of the press, yes, you can all refer to this as the mitch mcconnell tax hike. red state approves the tea party of louisville, the president saying this week, the next test will come with...
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last minute deal to help america from falling off the fiscal cliff. most taxes won't go up but nobody is talking about the big one that does go up and it affects almost everybody. >>> and the fun and games are not over yet. the next battle facing a dysfunctional government is coming in just a few months. why one former ceo says he feels and america is going to hell. >>> and a fashionable forecast. the man behind more than a dozen luxury brands tells us what's hot and what's not. "on the money" starts right now. >>> this is america's number one financial news program. "on the money," now, maria bartiromo. >> here's a look at what's making news as we head into a new week on "on the money." december jobs report was out. the labor department says that the economy created 155,000 new jobs for the month. that was slightly below expectations. the unemployment rate stands at 7.8%, which is actually unchanged from november because november was revised upward to 7.8%, as well. well, after a painful and protracted battle in government, president obama signed a c
last minute deal to help america from falling off the fiscal cliff. most taxes won't go up but nobody is talking about the big one that does go up and it affects almost everybody. >>> and the fun and games are not over yet. the next battle facing a dysfunctional government is coming in just a few months. why one former ceo says he feels and america is going to hell. >>> and a fashionable forecast. the man behind more than a dozen luxury brands tells us what's hot and what's...
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cliff deal. also because the economy is improving. richard? >> tracie, we'll take under 1 trillion right now. thank you. >>> a major decision expected today from the boy scouts of america. national board members set to vote on whether to lift a decade's long band on gay leaders and scouts. the final day of a three-day meeting of officials. a controversial issue drawing fire from both sides and putting one of the country's largest youth organizations under a microscope. president obama said over the weekend that scouting should be open to everyone while texas governor rick perry expressed the opposite opinion. if board members scrap that policy, they will be able to decide for themselves to admit gays to their ranks there. >>> on the heels of the boy scout's decision, the pentagon is announcing a paolicy shift fr service members and their partners. expand some benefits to same-sex partners of military personnel. new perks like issuing military i.d. cards and granting access to various spots on bas
cliff deal. also because the economy is improving. richard? >> tracie, we'll take under 1 trillion right now. thank you. >>> a major decision expected today from the boy scouts of america. national board members set to vote on whether to lift a decade's long band on gay leaders and scouts. the final day of a three-day meeting of officials. a controversial issue drawing fire from both sides and putting one of the country's largest youth organizations under a microscope. president...
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after the bell ben bernanke praised washington's fiscal cliff deal which he said probably would have caused a recession this year but cautioned, quote, we are not out of the woods yet. >>> a troubling new report finds more than one in four workers are dipping into retirement funds to keep up with their current bills. apparently folks in their 40s are most likely to do this. >>> some good news on the housing front. new numbers show home prices rose 7.5% in 2012. that's the most in six years, thanks to improving demand and fear of foreclosures. >>> swatch scooping up henry winston's line of watches for $1 billion. >>> toyota sold just under 10 million vehicles last year. >>> coca-cola is taking heat for its new ad campaign, meanwhile, encouraging people to come together to fight obesity. critics say, coke is just doing damage control to combat its contribution to the country's growing obesity problem. we'll find out what facebook's big mystery is at a much-hyped media event today. rumors are ranging from a new search feature to rival google to a possible facebook smartphone. >>> and ni
after the bell ben bernanke praised washington's fiscal cliff deal which he said probably would have caused a recession this year but cautioned, quote, we are not out of the woods yet. >>> a troubling new report finds more than one in four workers are dipping into retirement funds to keep up with their current bills. apparently folks in their 40s are most likely to do this. >>> some good news on the housing front. new numbers show home prices rose 7.5% in 2012. that's the most...
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that's due to delays tied to the fiscal cliff deal. meanwhile, you may have heard about an idea getting some currency shall we say online that could solve the nation's latest fiscal crisis, the debt ceiling. a white house petition to mint trillion dollar platinum coins has gotten nearly 7,000 signatures in one week. now it's estimated here a coin really worth a trillion dollars would be the size of a solid platinum 747. by weight of course. on the other hand if you want to go broke in the new year one new york restaurant has a four course meal priced at $2,013. it comes with two pounds of lobster, truffle, wine and a limited edition versaci plate. heading down under, the name under the golden arches will not be mcdonald's. in honor of australia day it will be changed to macca's. a bull on the loose gives a traffic cop the scare of a lifetime but the potentially painful reason why rex is hoping mark sanchez ups his game next season. you're watching "early today." >>> welcome back. here's a look at some other stories making news early to
that's due to delays tied to the fiscal cliff deal. meanwhile, you may have heard about an idea getting some currency shall we say online that could solve the nation's latest fiscal crisis, the debt ceiling. a white house petition to mint trillion dollar platinum coins has gotten nearly 7,000 signatures in one week. now it's estimated here a coin really worth a trillion dollars would be the size of a solid platinum 747. by weight of course. on the other hand if you want to go broke in the new...
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. >>> the fiscal cliff deal is making it a happy new year for many businesses including rum makers and hollywood studios and the critics are calling it quote special interest handouts more than 50 temporary tax breaks were renewed. totaling more than $63 billion next year. these include taxes on rum imported into the u.s. a tax credit for buying electric-powered motorcycles. a so-called nascar tax break allowing motor racing tracks to did depreciate assets faster than other businesses. and a break for film and tv productions shooting in the u.s. supporters say these subsidies help businesses create jobs. >>> john boehner is starting his second term as speaker of the house. boehner was re-elected thursday with 220 votes. though he had overwhelming support from the gop ten conservative lawmakers voted for someone other than boehner during a roll call vote. and some sustained altogether. boehner reminded voters to stay focused on public service and not personal glory. >> if you've come here to see your name in the lights or to pass off political victory at some accomplishment, you've come
. >>> the fiscal cliff deal is making it a happy new year for many businesses including rum makers and hollywood studios and the critics are calling it quote special interest handouts more than 50 temporary tax breaks were renewed. totaling more than $63 billion next year. these include taxes on rum imported into the u.s. a tax credit for buying electric-powered motorcycles. a so-called nascar tax break allowing motor racing tracks to did depreciate assets faster than other businesses....
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we saw republicans break off agree on the fiscal cliff deal. we saw breakoff on the sandy aid and starting to see some break off on immigration. it's certainly true they continue to be very hard on the president but not quite as hard as they were much of the first term. >> we know historically, the second -- chris: you know being in the cook report that's the hardest job in the world, get re-elect your party -- >> re-elected. if you then are showing all of your time as opposition party to soften up democrats, not about the president now, it's about the party and taking control of the senate. chris: let's take in the most vivid example this week, hagel, secretary of defense. serious business. the knockdown when the president was chosen people the people saying this is american for defending this country and they just jam him. >> i mean, there's a grab bag of grievance, i think republicans have against hagel. some of it that he broke with them on iraq. some of it that's is that he -- chris: that's why obama picked him? >> he endorsed obama pretty
we saw republicans break off agree on the fiscal cliff deal. we saw breakoff on the sandy aid and starting to see some break off on immigration. it's certainly true they continue to be very hard on the president but not quite as hard as they were much of the first term. >> we know historically, the second -- chris: you know being in the cook report that's the hardest job in the world, get re-elect your party -- >> re-elected. if you then are showing all of your time as opposition...
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hike,re already was a tax the fiscal cliff deal. chris: will the republicans taxes? >> i say no. chris: i think republicans like to not raise taxes. a greatu, it's roundtable. david ignatius, kelly o'donnell, and marka henderson mazzetti with "the new york times." that's the show, thanks for watching. stahl, boblesley woodward, michael duffy will be here. [ wind howling ] [ female announcer ] it balances you... [ water crashing ] ...it fills you with energy... and it gives you what you are looking for to live a more natural life. in a convenient two bar pack. this is nature valley... delicious granola bars made with the best ingredients in nature. nature valley. nature at its most delicious. >>> right now at 5:00, he was a teenager bullied to the point that he attempted suicide, jumping from the golden gate bridge. tonight, his message to young people on how to survive the darkest hours. >>> south bay drivers watch out. it starts tomorrow. the massive b.a.r.t. construction project that will impact traffic for mimes around. >>> thousands of jobs up for grabs in the bay area. we'll
hike,re already was a tax the fiscal cliff deal. chris: will the republicans taxes? >> i say no. chris: i think republicans like to not raise taxes. a greatu, it's roundtable. david ignatius, kelly o'donnell, and marka henderson mazzetti with "the new york times." that's the show, thanks for watching. stahl, boblesley woodward, michael duffy will be here. [ wind howling ] [ female announcer ] it balances you... [ water crashing ] ...it fills you with energy... and it gives you...
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hike,re already was a tax the fiscal cliff deal. chris: will the republicans taxes? >> i say no. chris: i think republicans like to not raise taxes. a greatu, it's roundtable. david ignatius, kelly o'donnell, and marka henderson mazzetti with "the new york times." that's the show, thanks for watching. stahl, boblesley woodward, michael duffy will be here. card hassles? introducing chase liquid. the reloadable card that's easy to activate and can be used right away. plus, you can load cash or checks at any chase depositfriendly atm and checks right from your smartphone. get rid of prepaid problems. get chase liquid. >>> hi, everybody. welcome to "on the money." i'm maria bartiromo. the market smashed through all-time highs again. what is behind this powerful rally. and should you invest and is it too late to get in? >>> and my conversation with the man who was in charge of the most powerful government office you've never heard of. why he says smart regulation from fuel efficiency to crew safety makes life a lot better. >>> and then sunshine on the high seas has been getting a bat
hike,re already was a tax the fiscal cliff deal. chris: will the republicans taxes? >> i say no. chris: i think republicans like to not raise taxes. a greatu, it's roundtable. david ignatius, kelly o'donnell, and marka henderson mazzetti with "the new york times." that's the show, thanks for watching. stahl, boblesley woodward, michael duffy will be here. card hassles? introducing chase liquid. the reloadable card that's easy to activate and can be used right away. plus, you can...
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. >>> also, that fiscal cliff deal is fine for the feds but what about the states? we'll tell you why california was banking on money that just does not exist and what the governor is going to do about it. we'll have that just ahead. >>> was the massive fire sparked by the very people sent out to fight those flames? new concerns that a firefighting mistake may have made a bad situation worse just ahead. >>> a live look outside city by the bay san francisco this morning. another cold start to our morning. >>> right now we'll take you live to new york city for that opening bell as they ring things in as we like to time this up. a beautiful way to start friday. markets hoping to continue the rise after fiscal cliff news. we'll keep you posted on this friday, january 4th. this is "today in the bay." >>> good friday morning, everybody. thank you for joining us. i'm jon kelley. >> i'm laura garcia-cannon. new numbers into our newsroom this morning about the state of the american economy. scott mcgrew joins us in our newsroom with analyst. good morning. >> 155,000 jobs wer
. >>> also, that fiscal cliff deal is fine for the feds but what about the states? we'll tell you why california was banking on money that just does not exist and what the governor is going to do about it. we'll have that just ahead. >>> was the massive fire sparked by the very people sent out to fight those flames? new concerns that a firefighting mistake may have made a bad situation worse just ahead. >>> a live look outside city by the bay san francisco this...
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that typically happens in late january but the irs says it is receiving the fiscal cliff deal to assess the impact before it starts taking those returns. a couple early business headlines. scott, back over to you. >> hampton, thank you very much. 5:15 right now. jon and laura, if i said apple had an app store and amazon had an app store, would you understand they are different? >> yes. >> then the jury has spoken. pretty much a judge said the same thing. apple had been suing amazon over the idea of an app store. a judge the other day said, you know what, there's no confusion here and threw the lawsuit out. a bit of a loss for apple. most people's reaction has been the exact same. i think i understand the difference. >> thank you very much. >> scott, thanks a lot. christina is here to tell us about another cold start to the day but sunshine on the way. >> something that's equally difficult to differentiate, the difference between 33 degrees and 32 degrees because downright cold everywhere out there this morning. even though temperatures are about one to two degrees more mild than yesterd
that typically happens in late january but the irs says it is receiving the fiscal cliff deal to assess the impact before it starts taking those returns. a couple early business headlines. scott, back over to you. >> hampton, thank you very much. 5:15 right now. jon and laura, if i said apple had an app store and amazon had an app store, would you understand they are different? >> yes. >> then the jury has spoken. pretty much a judge said the same thing. apple had been suing...
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. >> reporter: riding high after closing the fiscal cliff deal with congress, seemed to enjoy every minute today administering the oaths of office. and the high stakes, high profile work begins for the house tomorrow where they'll be voting on emergency relief for sandy victims, billions of dollars worth. and then over the next few weeks, both sides of congress will begin to work on things like raising the country's borrowing limit, the debt ceiling, and dealing with spending cuts that could include negotiations over programs like medicare. lester? >> all right, kelly, thanks. >>> one new member of congress, the junior senator from the state of maine, is already making a name for himself. tom brokaw is here tonight with more on a man who says he wants to do the people's business in a better way than we've seen lately. hi, tom. >> lester, we don't often think of maine and royalty in the same sentence. but tonight i am reporting on the king of maine. that would be angus king, near republican or democrat, officially independent. a former two-term governor, he promised a new approach. and it p
. >> reporter: riding high after closing the fiscal cliff deal with congress, seemed to enjoy every minute today administering the oaths of office. and the high stakes, high profile work begins for the house tomorrow where they'll be voting on emergency relief for sandy victims, billions of dollars worth. and then over the next few weeks, both sides of congress will begin to work on things like raising the country's borrowing limit, the debt ceiling, and dealing with spending cuts that...
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fiscal cliff deal that raise taxes top 1% and spending cuts may be help but washington is still stuck. this week you saw a couple republicans, chrisyty and jeb bush gearing up to run for president by attacking washington from afar. >> appears to be the last two years bog crisis to crisis. i think people are just numb by this dysfunction. >> if anybody this this room thinks they understand washington, d.c., please come on up and stand behind the podium and you give the answers. because i don't have the first damn idea what they're doing down there.
fiscal cliff deal that raise taxes top 1% and spending cuts may be help but washington is still stuck. this week you saw a couple republicans, chrisyty and jeb bush gearing up to run for president by attacking washington from afar. >> appears to be the last two years bog crisis to crisis. i think people are just numb by this dysfunction. >> if anybody this this room thinks they understand washington, d.c., please come on up and stand behind the podium and you give the answers....
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but that fiscal cliff deal is finally done and now it's officially signed by the president. president obama ordering the bill to be signed via autopen because he's back in hawaii celebrating the holidays with his family. the autopen is actually a device in washington, d.c. that replicates the president's significant. the president is also signing a $633 billion defense bill. that's for next year. >>> staying in washington, just minutes ago congress members voted to reelect john boehner as speaker of the house. this was a day after the fiscal cliff was officially averted. now that that's behind them, the new team has a new fight ahead of them. as nbc bay area's tracie potts reports from capitol hill, they already have a full plate. >> reporter: the 113th congress takes its oath this afternoon with 56 new democrats, 38 new republicans and a record number of women. the youngest, hawaii's tulsi gabbert. john boehner has announced the first order of business, a vote to provide billions to victims of superstorm sandy. >> the bottom line is that between friday morning and january 1
but that fiscal cliff deal is finally done and now it's officially signed by the president. president obama ordering the bill to be signed via autopen because he's back in hawaii celebrating the holidays with his family. the autopen is actually a device in washington, d.c. that replicates the president's significant. the president is also signing a $633 billion defense bill. that's for next year. >>> staying in washington, just minutes ago congress members voted to reelect john boehner...
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cliff deal. amazon has raised from $25 to $35. the first change in about a decade. the move may prompt shoppers to sign up for amazon prime for $79 a year. you get free two-day shipping on all orders and access to streaming video. proof that's nothing that is free is really free. >> thank you so much, kayla. 4:46. one of washington, d.c.'s most iconic buildings is getting a facelift wechlt a facelift. we are talking about the u.s. capital building. the dome has more than 1,000 cracks and structural cracks that need to be addressed. it is not a part of the original capitol building. it replaced another one. get your photos now. starting in november, it will be covered by scaffolding and cost an estimated $60 million. >> cracks and structural problems, i do know the feeling unfortunately. >>> the government's health care website trying to get the site up and running. tracie potts is on capitol hill with more details trying to fix the bugs and glitches. >> reporter: it's working for some. >> i've be
cliff deal. amazon has raised from $25 to $35. the first change in about a decade. the move may prompt shoppers to sign up for amazon prime for $79 a year. you get free two-day shipping on all orders and access to streaming video. proof that's nothing that is free is really free. >> thank you so much, kayla. 4:46. one of washington, d.c.'s most iconic buildings is getting a facelift wechlt a facelift. we are talking about the u.s. capital building. the dome has more than 1,000 cracks and...
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. >>> governor jerry brown is developing a plan he hopes will keep his fiscal cliff deal from taking a bite out of california's budget. the deal signed by president obama on wednesday prevents states from keeping a portion of revenue from the federal estate tax. california has not received any revenue from that tax since 2004. but the brown administration included it anyway when coming up with the state's current budget plan. officials projected that they'd receive $335 million from the tax over the next year and a half. a spokesman for brown's administration tells "the l.a. times" they've already figured out a way to get by without that money, but he did not offer any specifics. the governor is expected to unveil his new budget proposal next week. >>> right now meteorologist christina loren sits in with it. the final friday of 2013. and a weekend upon us. what are we looking at? >> we're looking at some showers. rain on the way for the weekend. we'll help you make those outdoor plans nonetheless. i think you'll be aubl to get outdoors for most possibly saturday and sunday. but right
. >>> governor jerry brown is developing a plan he hopes will keep his fiscal cliff deal from taking a bite out of california's budget. the deal signed by president obama on wednesday prevents states from keeping a portion of revenue from the federal estate tax. california has not received any revenue from that tax since 2004. but the brown administration included it anyway when coming up with the state's current budget plan. officials projected that they'd receive $335 million from...
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but that fiscal cliff deal, what ended up being was just a tax increase that came out of that. there was not balance which is what the president says he's for now. there was no spending cuts. it was just revenue. that's what the speaker said. you got your revenue. now where are the cuts? >> let me answer. obviously, the president wanted the balanced agreement. the speaker walked away. we wanted an agreement that included long-term entitlement reform. and we give the speaker credit for the $600 billion. but i'll do a simple math equation, david. if he put $1 trillion of revenue on the table 10 weeks ago, and $600 billion has been passed, if he was keeping his offer on the table, he would be at least willing to consider $400 billion more in revenues as a starting point from tax reform if the president is keeping his offer on the table. and, david, as you know, these are tough things the president agreed to. means testing, medicare. that means higher premiums f well off medicare recipients. $400 billion over 10 years in medicare savings. and the hardest of all -- >> just to point
but that fiscal cliff deal, what ended up being was just a tax increase that came out of that. there was not balance which is what the president says he's for now. there was no spending cuts. it was just revenue. that's what the speaker said. you got your revenue. now where are the cuts? >> let me answer. obviously, the president wanted the balanced agreement. the speaker walked away. we wanted an agreement that included long-term entitlement reform. and we give the speaker credit for the...
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or are we waiting until after the election to deal with the fiscal cliff, to deal with the issues? >> it is an enormous frustration, because we know they hear everybody. but the way washington works is they probably won't do anything until after the election. so they are struggling, maybe everybody is over-emphasizing the risk of the election -- it only expires if you let it happen, do nothing the entire 2013 fiscal year, which i think is a very low probability. >> yes, but what about ben bernanke, the chairman of the federal reserve testifying before congress this week, offering a downview of the economy again. the sentiment has weakened, we could see things worsen, but no real significant action that they promised. although, do you think we'll see qe 3 or some type of stimulus from the fed? >> the call is for a 50% chance in september. so in other words, the august meeting unlikely. september, maybe, the fed does have to surprise us, so giving us too much inside the thought process, doesn't help. >> so what about the market rallying? >> unfortunately, there is a knee jerk reactio
or are we waiting until after the election to deal with the fiscal cliff, to deal with the issues? >> it is an enormous frustration, because we know they hear everybody. but the way washington works is they probably won't do anything until after the election. so they are struggling, maybe everybody is over-emphasizing the risk of the election -- it only expires if you let it happen, do nothing the entire 2013 fiscal year, which i think is a very low probability. >> yes, but what...
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fiscal cliff deal that raise taxes top 1% and spending cuts may be help but washington is still stuck. this week you saw a couple republicans, chrisyty and jeb bush gearing up to run for president by attacking washington from afar. >> appears to be the last two years bog crisis to crisis. i think people are just numb by this dysfunction. >> if anybody this this room thinks they understand washington, d.c., please come on up and stand behind the podium and you give the answers. because i don't have the first damn idea what they're doing down there. chris: har
fiscal cliff deal that raise taxes top 1% and spending cuts may be help but washington is still stuck. this week you saw a couple republicans, chrisyty and jeb bush gearing up to run for president by attacking washington from afar. >> appears to be the last two years bog crisis to crisis. i think people are just numb by this dysfunction. >> if anybody this this room thinks they understand washington, d.c., please come on up and stand behind the podium and you give the answers....
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they will give me their take on this fiscal cliff deal and look ahead to the fights over the debt ceiling. >> looking forward to it. thank you. once again, lester. >>> according to lance armstrong's twitter account, the former cycling champ is enjoying r and r in hawaii a day after "new york times" reported he's considering making a public admission about using performance-enhancing drugs. a confession of any kind could bring him even more trouble. >> throughout his celebrated career, champion cyclist lance armstrong vehemently denied allegations he was doping. >> have you ever, ever in the history of this race used performance-enhancing drugs. >> absolutely not. never. >> not once? >> not once. >> last fall a report led to him being stripped of his were seven tour de france titles the "new york times" quotes sources as saying armstrong told associates and anti-doping officials that he is considering publicly admitting that he used banned performance-enhancing drugs and blood transfusions during his cycling career. >> right now i think he's suffering pretty badly from i'm not competing an
they will give me their take on this fiscal cliff deal and look ahead to the fights over the debt ceiling. >> looking forward to it. thank you. once again, lester. >>> according to lance armstrong's twitter account, the former cycling champ is enjoying r and r in hawaii a day after "new york times" reported he's considering making a public admission about using performance-enhancing drugs. a confession of any kind could bring him even more trouble. >> throughout...
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. >>> it's now a sense of how much money you'll pay under the fiscal cliff deal may have you rolling your eyes. >>> welcome back. a live look at the capitol in washington, d.c. where preparations are well under way for the president's inauguration public oath on monday, january 20th. we'll have the latest for you starting "today in the bay" at 4:30 on monday morning. rit now it's 5:10. >>> oakland based company has sold the downtown high rise to a san diego company for $110 million. the company will keep its headquarters in the building in space it's leasing from the new owner. the other empty space will be enve enree renovated. >>> a "wall street journal" analysis of who will pay what under the new tax plans getting a few chuckles this morning. scott mcgrew single moms will now have to pay $70,000 in taxes. how's that possible? >> it's possible if you're "the wall street journal." the journal made a graphic showing a different number of americans all walks of life really what they'll have to pay in taxes. the single mother there on the left who makes $260,000 a year will have to pay
. >>> it's now a sense of how much money you'll pay under the fiscal cliff deal may have you rolling your eyes. >>> welcome back. a live look at the capitol in washington, d.c. where preparations are well under way for the president's inauguration public oath on monday, january 20th. we'll have the latest for you starting "today in the bay" at 4:30 on monday morning. rit now it's 5:10. >>> oakland based company has sold the downtown high rise to a san diego...
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♪ ♪ >> less than a month after signing a fiscal cliff deal and narrowly averting a financial crisis, the obama administration once again finds itself locking horns with republicans over the issue of raising the debt ceiling -- the amount of money the nation is legally allowed to borrow. >> jimmy: oh, yeah. [ laughter ] when it comes to raising the debt ceiling, the president's having a hard time getting it up. [ laughter ] seems the gop ain't rubbing him the right way, especially with the country $16.4 trillion in debt. ♪ so we're still in debt but it's all right the united states clearly couldn't get any broker ♪ ♪ got to liquidate its assets just like al roker ♪ [ laughter and applause ] ♪ >> while most republicans oppose raising the debt ceiling, several have voiced dissension within gop ranks, and democrats are now hoping this will pressure their house leader, john boehner, and soften his hard-lined stance. >> jimmy: mm mm mm. take it from my man, brilly willy. ain't nothing worse than a soft boehner. [ laughter ] [ cheers and applause ] ain't nothing worse. especially
♪ ♪ >> less than a month after signing a fiscal cliff deal and narrowly averting a financial crisis, the obama administration once again finds itself locking horns with republicans over the issue of raising the debt ceiling -- the amount of money the nation is legally allowed to borrow. >> jimmy: oh, yeah. [ laughter ] when it comes to raising the debt ceiling, the president's having a hard time getting it up. [ laughter ] seems the gop ain't rubbing him the right way,...
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when joe biden and i negotiated the fiscal cliff deal at the end of 2012, the thing i wanted the most that i thought would be the most important for kentucky was a $5 million per person estate tax exemption. a lot of people who have family farms and small businesses look like they are worth a lot of money, but they really aren't. if you are lucky enough to have children that want to continue to farm or continue the small business, you can't get it down to them, you could not in the past because of the estate tax exemption. a $5 million exemption index for inflation permanent law would save 99% of the businesses and far farms in my state from having to be sold. the leader in the house made it clear that if that was in the final deal, house democrats wouldn't vote for it. i thanked her. it was in the final deal. 15 house democrats voted against it and 3 senate democrats. the point i'm making the democrat who counts is the president of the united states. democrats in congress will support whatever he agrees to do. that was a perfect example of exactly what i'm talking about. we were very
when joe biden and i negotiated the fiscal cliff deal at the end of 2012, the thing i wanted the most that i thought would be the most important for kentucky was a $5 million per person estate tax exemption. a lot of people who have family farms and small businesses look like they are worth a lot of money, but they really aren't. if you are lucky enough to have children that want to continue to farm or continue the small business, you can't get it down to them, you could not in the past because...
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the president is wrapping up a two-week vacation that was interrupted by the fiscal cliff deal. one of his first priorities getting back to work will be to get congress to lift the federal debt ceiling. he said he will not compromise on this issue. >> the congress refuses to give the united states the ability to pay its bills on time. the consequences to the global economy could be catastrophic. the last time congress threatened this course of action our entire economy suffered for it. our families and businesses cannot afford that dangerous game again. >> president obama also says he's looking forward to working with new congress to continue to boost the economy and shrink federal deficits. >>> president obama's 2008 election campaign was fined by the federal elections commission and it's one of the largest fines ever levied. the s.e.c. fined the campaign $375,000 for failing to report the identities of donors who contributed $2 million in the final weeks before the election. the fines followed an s.e.c. audit after complaints by the republican national committee and other grou
the president is wrapping up a two-week vacation that was interrupted by the fiscal cliff deal. one of his first priorities getting back to work will be to get congress to lift the federal debt ceiling. he said he will not compromise on this issue. >> the congress refuses to give the united states the ability to pay its bills on time. the consequences to the global economy could be catastrophic. the last time congress threatened this course of action our entire economy suffered for it....
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neither side saying if any progress at all has been made. >>> fiscal cliff deal is now done and it's now officially signed by the president. president obama ordering the bill to be signed via auto pen because right after they wrapped things up he went back on vacation with his family in hawaii. the auto pen is a device in washington, d.c. that replicates the president's signature. the president also signed a $633 billion defense bill for next year. >>> in the meantime, the house plans to vote tomorrow on aid for superstorm sandy. house speaker john boehner agreed to the vote following pressure from fellow republicans who were angry that he had scrapped a vote earlier this week. friday's vote covers $9 billion for the national flood insurance program. another vote on january 15th will cover the remaining $51 billion in that package. >>> here's a big story. interesting here. the arab centric network al jazeera will buy current tv. >> controversial among a lot of americans. it has respect from journalists. >> it does. the hard feelings go back to the iraq war. al jazeera covering it fro
neither side saying if any progress at all has been made. >>> fiscal cliff deal is now done and it's now officially signed by the president. president obama ordering the bill to be signed via auto pen because right after they wrapped things up he went back on vacation with his family in hawaii. the auto pen is a device in washington, d.c. that replicates the president's signature. the president also signed a $633 billion defense bill for next year. >>> in the meantime, the...
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cliff deal, taxes have to gun on to ue wealthy, and i think he'll get a good deal. >> i think they'll get a punting deal. but romney, he made an unfortunate comment, but the biggest problem he had was the republican primary. that is what is driving the brand to a disaster right now. and we have to get kind of a party view of america that is not right out of rush limbaugh's dream journal. we need to look at reality. >> what's the future of the tea party? you heard bill kristol saying we should give up some of this protection of tax cuts for wealthy americans. are you prepared to give up on that particular point to get a larger deal, including cutting government back significantly? >> i'm not if what it means is that we're going to raise taxes and we're not going to decrease any spending. if you remember that moment in the primary where they asked all 10 candidates -- >> the 10 to one, right. >> i would have answered the question differently. i would have raised my hand and said, yes, i am willing to do it if the $10 in spending cuts happen today. because what happens in washington, d.c
cliff deal, taxes have to gun on to ue wealthy, and i think he'll get a good deal. >> i think they'll get a punting deal. but romney, he made an unfortunate comment, but the biggest problem he had was the republican primary. that is what is driving the brand to a disaster right now. and we have to get kind of a party view of america that is not right out of rush limbaugh's dream journal. we need to look at reality. >> what's the future of the tea party? you heard bill kristol saying...
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cliff deal happened. the problem is there is no trigger at the end of the year, there isn't this congress. i don't know how this happens at the end of this year and suddenly now the white house doesn't see a path. >> fires all around them, no real second-term agenda when they have to deal with all these problems. >> immigration was going to be the one thing they could have pointed to. i think that conversation with john boehner and the president, the president don't have a whole well of trust in boehner saying, you know, hang with me, i can get this done by the end of the summer. boehner still doesn't have the support and you heard what congressman labrador has been saying, they don't have a marco rubio on the house side who can try to work around this and bring it together. >> it was supposed to be paul ryan -- >> and he's gone silent. >> paul ryan has never been brave on the political front. always on policy but never on politics. >> there are republican constituencies out there, the business community
cliff deal happened. the problem is there is no trigger at the end of the year, there isn't this congress. i don't know how this happens at the end of this year and suddenly now the white house doesn't see a path. >> fires all around them, no real second-term agenda when they have to deal with all these problems. >> immigration was going to be the one thing they could have pointed to. i think that conversation with john boehner and the president, the president don't have a whole...
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cliff without a deal, because the cuts are severe and the tax increases are severe and so we've got to find a path forward. >> reporter: on capital hill leaders signaled compromise. >> compromise is not a dirty word. i want to work together, but i want everyone to also understand you can't push us around. >> i'm not suggesting we compromise on our principles, but i am suggesting that we commit ourselves to creating an atmosphere where we can see common ground where it exists and seize it. >> reporter: post election, the same president, the same balance of power in congress, and the same problems that divided a nation. now, you might recall, before the election, president obama said if re-elected, which now he has been, he thinks he can come up with a deficit deal within six months. the clock is now ticking. lynn? >> sure is. tracie, thanks. well, bill karins is back with your national and regional weather. bill, west coast is getting slammed as well. >> especially the northern rockies. they're going to see a significant early-season snowstorm and a blizzard in some cases. mostly, ou
cliff without a deal, because the cuts are severe and the tax increases are severe and so we've got to find a path forward. >> reporter: on capital hill leaders signaled compromise. >> compromise is not a dirty word. i want to work together, but i want everyone to also understand you can't push us around. >> i'm not suggesting we compromise on our principles, but i am suggesting that we commit ourselves to creating an atmosphere where we can see common ground where it exists...
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the lack of an agreement, john and marla, created this fiscal cliff which we're dealing with today. the dow industrials down better than 260 points. marla? >> we need to go from partisan to bipartisan. scott, thank you so much. >>> it did not turn out to be the long drawn-out night a lot of people expected just before 9:00 president obama was declared the projected winner. and now with a status quo election result, a major question remains. can the white house and congress finally find a middle ground? and work out a long list of major issues? nbc's brian mooar has the latest on the president's victory. >> reporter: celebrating victory, president obama reached out to republicans and urged them to work with him on some of this nation's toughest challenges. >> reducing our deficit. reforming our tax code. fixing our immigration system. freeing ourselves from foreign oil. we've got more work to do. >> reporter: and he reached out to a divided nation. >> and whether i earned your vote or not, i have listened to you. i have learned from you. and you've made me a better president. >> repo
the lack of an agreement, john and marla, created this fiscal cliff which we're dealing with today. the dow industrials down better than 260 points. marla? >> we need to go from partisan to bipartisan. scott, thank you so much. >>> it did not turn out to be the long drawn-out night a lot of people expected just before 9:00 president obama was declared the projected winner. and now with a status quo election result, a major question remains. can the white house and congress...
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>> no, that is why i don't think you have a deal, you go over the fiscal cliff, it expires, then the administration comes back with a fiscal tax cut that is worldwide, applies to everybody. there is no class war fare charge there. but it is a lot more progressive in the income distribution, than the tax cuts of the past. >> if the republicans win and hold the house and senate, you know, are we dead locked? >> i don't think we'll be dead locked, but it will be rocky. we'll have a period in mid-to late december where it is not apparent how a deal will come together. ultimately we'll get a deal, but i think the big question here is there is such a prolonged period of uncertainty and anxiety, there will be lots of discussion on your show and other shows that there is a longer lasting harm that comes out of this. if we spend a month or two in this anxiety mode, you could have a long-term difficult effect from that. >> that is certainly the word. peter, nice to have you on the program. >> good to be with you. >> we'll see you soon, peter orszag. >>> up next, a neighborhood legend shares hi
>> no, that is why i don't think you have a deal, you go over the fiscal cliff, it expires, then the administration comes back with a fiscal tax cut that is worldwide, applies to everybody. there is no class war fare charge there. but it is a lot more progressive in the income distribution, than the tax cuts of the past. >> if the republicans win and hold the house and senate, you know, are we dead locked? >> i don't think we'll be dead locked, but it will be rocky. we'll have...
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cliff without a deal, because the cuts are severe and the tax increases are severe and so we've got to find a path forward. >> reporter: on capitol hill, leaders signalled compromise. >> compromise is not a dirty word. i want to work together but i want everyone to also understand you can't push us around. >> i'm not suggesting we compromise on our principles but i am suggesting that we commit ourselves to creating an atmosphere where we can see common ground, where it exists and seize it. >> reporter: post election, the same president, the same balance of power in congress and the same problems that divided a nation. tracie potts, nbc news, washington. >>> 4:47. wal-mart is trying to entice you to stand out in this cold long black friday lines. plus economic trouble in europe will impact your markets this morning. for more details on that, we turn to jackie deangeles live in cnbc headquarters. >> reporter: good morning. u.s. stock futures trending slightly higher at the moment. this after yesterday's very sharp sell-off following president obama's re-election. asian shares tumbled
cliff without a deal, because the cuts are severe and the tax increases are severe and so we've got to find a path forward. >> reporter: on capitol hill, leaders signalled compromise. >> compromise is not a dirty word. i want to work together but i want everyone to also understand you can't push us around. >> i'm not suggesting we compromise on our principles but i am suggesting that we commit ourselves to creating an atmosphere where we can see common ground, where it exists...
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cliff without a deal because the cuts are severe and the tax increases are severe. and so we've got to find a path forward. >> reporter: on capitol hill, leaders signaled compromise. >> compromise is not a dirty word. i want to work together. but i want everyone to also understand, you can't push us around. >> i'm not suggesting we compromise on our principles. but i am suggesting that we commit ourselves to creating an atmosphere where we can seek common ground where it exists. >> reporter: post-election, the same president, the same balance of power in congress and the same problem that divided a nation. tracie potts, nbc news, washington. >>> the stock markets are skittish over the fiscal cliff. our scott mcgrew says they are still down a little bit. baa little bit of calm for investors just a bit. >> good morning. the dow industrials down another 60 points this morning. the nasdaq down as well. a day after the worst fall on wall street so far this year. and so much of that is that concern over the fiscal cliff that tracie potts talked about and the concern about
cliff without a deal because the cuts are severe and the tax increases are severe. and so we've got to find a path forward. >> reporter: on capitol hill, leaders signaled compromise. >> compromise is not a dirty word. i want to work together. but i want everyone to also understand, you can't push us around. >> i'm not suggesting we compromise on our principles. but i am suggesting that we commit ourselves to creating an atmosphere where we can seek common ground where it...
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congress returns to work this weekend, stim facing that so-called fiscal cliff. if a deal can't be reached by january 1st, americans would face half a trillion dollars more than in taxes next year. that's coupled with $100 billion in cuts to domestic and defense spending. since the reagan era, most republicans have pledged not to raise taxes. but as nbc's mike viqueira reports, there are some signs of flexibility on both sides of the aisle. >> reporter: it's a pledge almost all republicans have signed, to oppose tax increases of any kind. that once solid wall was showing cracks. >>> the pledge you saw 18 years ago, 20 years ago was for that congress. the world has changed and the economic situation is different. >> reporter: but republicans insist in return for defying party doctrine, democrats must agree to changes in social security and medicare. >> i will violate the pledge, long story short, for the good of the country, only if democrats will do entitlement reform. >> reporter: activists on the left are lining up to oppose those reforms, but the president has
congress returns to work this weekend, stim facing that so-called fiscal cliff. if a deal can't be reached by january 1st, americans would face half a trillion dollars more than in taxes next year. that's coupled with $100 billion in cuts to domestic and defense spending. since the reagan era, most republicans have pledged not to raise taxes. but as nbc's mike viqueira reports, there are some signs of flexibility on both sides of the aisle. >> reporter: it's a pledge almost all...
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he has color and humor and went in and cleaned up the fiscal cliff deal. >> he's the vice president. are you out of your mind? we don't want to see him doing this. i want him working. i don't want him playing to the cameras. i don't want him appealing to you and your base. i don't want to look at snooki all the time because that is not what his job is. >> interesting for politicians, chris christie and joe biden, in reality tv, the word is "real." people want real people as politicians now. whether on either side of the aisle, alex deals with these people everyday forget whether he has a show or not, we want to see warts and human beings and we're done with this very stiff things and the road map for politicians. >> we don't want to see how the sausage is made, i do not think so. >> as alex pointed out, he's at the center of the fiscal cliff deal and gun control thing. we're out of time and got so deep on the baseball team. >> who knew, baseball. >> and although you weren't ahead. thanks so much, guys. >>> up next, why sitting all day is so bad for all of us. >> who knew? try delicio
he has color and humor and went in and cleaned up the fiscal cliff deal. >> he's the vice president. are you out of your mind? we don't want to see him doing this. i want him working. i don't want him playing to the cameras. i don't want him appealing to you and your base. i don't want to look at snooki all the time because that is not what his job is. >> interesting for politicians, chris christie and joe biden, in reality tv, the word is "real." people want real people...
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the market is cheering that fiscal cliff deal. the relief rally could be fading a little bit. today the investors have a slew of data to invest, employment data, auto sales, and retailers report their monthly sales. willie? >> thanks, courtney. >>> the death toll in syria has hit a terrible new milestone, more than 60,000 people have died in the 22-month-long conflict, this according to the united nations. a government air strike on damascus on wednesday killed dozens of people. >>> al jazeera is making a strong push for a wider american audience as the news network purchases current tv, which was cofounded by al gore in 2005. gore confirmed the sale saying al jazeera provides diverse points of view. >>> a christmas surprise can turn even a grown man into a excited little boy. the wife and son decided to cheer him up, when they asked dad to help unload the groceries from the car, he found something special. >> hello! >> dad named the little guy monty. as you can see here, they are already inseparable. now 7:16. back to matt, erica, al. guys, the puppy gets him every time. >> n
the market is cheering that fiscal cliff deal. the relief rally could be fading a little bit. today the investors have a slew of data to invest, employment data, auto sales, and retailers report their monthly sales. willie? >> thanks, courtney. >>> the death toll in syria has hit a terrible new milestone, more than 60,000 people have died in the 22-month-long conflict, this according to the united nations. a government air strike on damascus on wednesday killed dozens of people....
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cliff. >>> and the giants have another reason to celebrate. we'll tell you about the record-breaking payout that was announced this morning. you may be surprised who gets the full share. >>> it's cyber monday. we will look at the deals coming up in business news. [ female announcer ] what would you call an ordinary breakfast pastry that's been wrapped in a flaky crust stuffed with a gooey center toasted up all golden brown then given a delicious design? a toaster strudel. pillsbury toaster strudel. so delicious...so fun. faster than mandy can hang up on mr. monday. you hang up first. [ female announcer ] in just 60 seconds, you've got snack-defying, satisfying totino's pizza rolls. [ ringing ] it's on. let's roll. >>> protesters are back in the streets of cairo and now there are fears a second revolution may be looming in egypt goi following the series of decrees. the decree that gives the president immunity from the nation's courts. nbc reports from cairo. >> reporter: for a fourth straight
cliff. >>> and the giants have another reason to celebrate. we'll tell you about the record-breaking payout that was announced this morning. you may be surprised who gets the full share. >>> it's cyber monday. we will look at the deals coming up in business news. [ female announcer ] what would you call an ordinary breakfast pastry that's been wrapped in a flaky crust stuffed with a gooey center toasted up all golden brown then given a delicious design? a toaster strudel....
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Nov 25, 2012
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. >>> congress returned from the holidays still facing the fiscal cliff. if a deal can't be reached by january 1st americans will face half a trillion more in taxes next year coupled with a hundred billion dollars in cuts to domestic and defense spending. since the reagan era most republicans have day caretaken promising they won't raise taxes. mike viqueira says there may be flexibility on both sides of the aisles. >> reporter: it's a pledge almost all republicans have signed to oppose tax increases of any kind. today shit was showing cracks. >> the world has changed and the economic situation is different. >> reporter: republicans insist in return for defying part doctrine they must have changes in social security and medicare. >> i will sign only if they undo entitlement reform. >> reporter: be president has put them on the table before. during last year's failed talks on a grand bargain and more recently in his first post election press conference. >> we have to continue to take a serious look at how we reform our entitlements because health care costs
. >>> congress returned from the holidays still facing the fiscal cliff. if a deal can't be reached by january 1st americans will face half a trillion more in taxes next year coupled with a hundred billion dollars in cuts to domestic and defense spending. since the reagan era most republicans have day caretaken promising they won't raise taxes. mike viqueira says there may be flexibility on both sides of the aisles. >> reporter: it's a pledge almost all republicans have signed to...